Asia’s richest man is set to double the size of his gas portfolio in Britain
with the £645 million cash purchase of Wales & West Utilities.

The aquisition will give Li Ka-shing control of 35,000km of gas pipelines
covering 7.4 million customers through Wales and the South West of England.
Mr Li already controls 37,000km of gas transmission pipelines in Britain
through Leeds-based Northern Gas Network which he bought for £1.4 billion in
2004.

Yesterday’s agreement to buy Macquarie-owned Wales & West is another
example of the renowned dealmaker taking advantage of falling asset
valuations across Europe in the midst